Iberdrola Weighs Sale of Stake in US Renewables Business
Jan 23, 2023 by Bloomberg(Bloomberg) -- Iberdrola SA is weighing the sale of a stake in its US renewables operation, people familiar with the matter said, as part of plans to bring in new investors across its business.
The Spanish power company is considering seeking a financial partner for its existing green energy projects in the US and to help fund future initiatives, the people said, asking not to be identified discussing confidential information.
Deliberations are ongoing and no final decisions on the size or timing of any stake sale have been made, according to the people. A representative for Bilbao-based Iberdrola declined to comment.
The move is in line with Iberdrola’s 2023-2025 strategic plan to pay-down debt and reduce its cost of capital by raising billions of euros through asset rotation and the sale of stakes in certain units. Earlier this month, it sold 49% of its Spanish renewable business to Norway’s sovereign wealth fund. It offloaded a stake in a German wind farm to Energy Infrastructure Partners AG in September and is also looking to sell an interest in its Brazilian transmission lines.
Iberdrola said at a recent investor day that its biggest capital expenditure over the three-year period will be expanding its electricity network in the US, where it’s one of the three largest renewable energy companies. Its New York-listed subsidiary Avangrid Inc. is present in 25 states and manages more than 9,000 megawatts of total electricity generating capacity, according to its website.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
By
More Utilities

Adani Share Sale Fully Subscribed After Last-Day Jump in Bids
Jan 31, 2023
European Gas Prices Swing as Traders Track Demand, Stockpiles
Jan 30, 2023
Eskom Latest: Power Outages Roll on; Emergency Package Discussed
Jan 30, 2023
NTPC’s Profit Jumps as Growing Economy Boosts Power Demand
Jan 28, 2023
Nigeria's $11 Billion Lawsuit Begins With Accusations of Double-Dealing, Six-Figure Bribes
Jan 28, 2023
CORE Electric Cooperative and Invenergy agree power supply partnership
Jan 27, 2023
South Africa’s Ruling Party Blames Everyone But Itself for Power Crisis
Jan 26, 2023
European Gas Slips Again as Ample Supplies Help to Soften Crisis
Jan 25, 2023
UK Homes Asked to Curb Power for Second Day as Wind Fades
Jan 24, 2023